Ambarella, Inc. (NASDAQ:AMBA) Position Reduced by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in shares of Ambarella, Inc. (NASDAQ:AMBA - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,458 shares of the semiconductor company's stock after selling 6,488 shares during the period. First Trust Advisors LP owned about 0.31% of Ambarella worth $9,344,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its position in Ambarella by 68.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock worth $32,000 after buying an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Ambarella during the 4th quarter worth about $37,000. Sterling Capital Management LLC raised its stake in Ambarella by 629.3% in the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 516 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Ambarella in the 4th quarter valued at about $53,000. Finally, R Squared Ltd acquired a new stake in shares of Ambarella during the 4th quarter worth about $68,000. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Ambarella Trading Up 4.7 %

AMBA traded up $2.27 during trading on Friday, hitting $50.43. 539,706 shares of the company's stock were exchanged, compared to its average volume of 691,770. The stock has a 50 day moving average price of $50.02 and a 200 day moving average price of $63.41. Ambarella, Inc. has a 1 year low of $38.86 and a 1 year high of $85.15. The firm has a market cap of $2.14 billion, a P/E ratio of -13.06 and a beta of 1.86.

Insider Buying and Selling

In other Ambarella news, COO Chan W. Lee sold 1,468 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $80,769.36. Following the completion of the sale, the chief operating officer now owns 130,297 shares of the company's stock, valued at $7,168,940.94. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Day sold 479 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $26,354.58. Following the transaction, the vice president now directly owns 15,441 shares in the company, valued at approximately $849,563.82. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,328 shares of company stock valued at $513,467. Company insiders own 5.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMBA. Susquehanna upped their price objective on shares of Ambarella from $95.00 to $100.00 and gave the company a "positive" rating in a research note on Wednesday, January 22nd. Needham & Company LLC raised their price objective on Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Stifel Nicolaus reduced their target price on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Rosenblatt Securities restated a "buy" rating and issued a $100.00 price target on shares of Ambarella in a report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.